CFTC Chairman Gary Gensler Stepping Down

Scott Patterson broke the news on Oct. 3 that Commodity Futures Trading Commission Chairman Gary Gensler plans to leave the agency by the end of the year, according to a person familiar with the matter. The widely-anticipated move will bring to an end a tumultuous tenure highlighted by a dramatic overhaul of the derivatives market mandated by the 2010 Dodd-Frank law and the prosecution of big investment banks for manipulating the Libor interest-rate benchmark.

Here is how the story appeared on DJX:

Oct 03, 2013

1:29

*DJ CFTC Chairman Gary Gensler Stepping Down, Source Says

1:29

*DJ Gensler Likely To Step Down By End Of Year, Source Says

1:47

DJ CFTC Chairman Gary Gensler Stepping Down, Source Says

By Scott Patterson

WASHINGTON–Commodity Futures Trading Commission Chairman Gary Gensler plans to leave the agency by the end of the year, according to a person familiar with the matter.

The widely-anticipated move will bring to an end a tumultuous tenure highlighted by a dramatic overhaul of the derivatives market mandated by the 2010 Dodd-Frank law and the prosecution of big investment banks for manipulating the Libor interest-rate benchmark.

Mr. Gensler, whose term ended earlier this year, can stay on as head of the futures regulator until at least December under the terms of his appointment, or until Congress confirms a replacement.

The Wall Street Journal previously reported that the White House in January had asked Mr. Gensler to serve a second term at the head of the CFTC. But Mr. Gensler passed up the opportunity.

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